On the floor of the European Congress of Radiology (ECR) manufacturers showcased the latest technological innovations in medical imaging, impressing radiologists and civilians alike. Although these flashy displays of technical prowess have long been used to sell radiologists new equipment, behind-the-scenes, manufacturers were focused on different type of sales pitch.

The drastic growth of the handheld ultrasound equipment market is a result of a shift toward smaller and smarter medical imaging technology. From 2016 to 2017, handheld revenues grew over 18%, outpacing all other ultrasound product categories. Handheld ultrasound systems have been on the market for nearly a decade and are now booming due to numerous growth drivers, including portability and affordability, and solutions to previous obstacles, like insufficient image quality and lack of technological infrastructure and training.

The well-established and unshakeable interventional X-ray market is primarily dominated by leading manufacturers; Philips Healthcare, Siemens Healthineers, GE Healthcare, Shimazdu and Canon Medical Systems. How has product launches in the previous years affected the competitive landscape?

Patient care is shifting from curative to preventative care, with investment heavily placed on limiting avoidable adverse events. Patient diagnosis is happening earlier to reduce the impact to the patient, and the subsequent cost to the provider. It is believed that by focusing on monitoring key health indicators, earlier diagnosis will ultimately reduce healthcare expenditure on non-communicable diseases (NCDs), which may have previously gone unnoticed until they required major and costly treatment. Patients are becoming much more involved in the decisions surrounding their own care paths.

One might think new technology that holds the promise to reduce medical costs, improve diagnoses, and raise patient comfort would make for exciting conversations in the medical imaging industry. Instead, the mere mention of A.I. today causes frequent and dismissive eye-rolls. A.I. is a term that has been coopted by cooperate marketing machines that is now so vague as to be virtually meaningless.

IHS Markit recently attended the world’s largest medical trade fair in Dusseldorf, Germany. With an attendance of over 120,000 visitors, the buzz around all things medical was very clear. Attendees ranged from healthcare professionals with a vested interest in learning more about innovative technologies, to dealers looking to establish relationships with new manufacturers.

There has been a shift change in the patient monitor market, with innovation focused on improving cost efficiency, work-flow, and coverage of patient status. The continual push to monitor a patient status throughout the treatment pathway has increased demand for low-acuity monitoring. This has been further compounded by the increased throughput of patients, in addition to treatment in an ambulatory or outpatient setting. The new IHS Markit ‘Patient Monitors Report – 2018’ outlines the key technological trends in the market, and their subsequent impact on market growth and competitive environment.

China was the second-largest ultrasound market in the world in 2017, growing an impressive 15.8%. China’s ultrasound market has grown more than 10% nearly every year since 2009 when Healthy China 2020 policies were first implemented, but its landscape looks much different now than it did a decade ago. New reform initiatives are shifting ultrasound funds toward underdeveloped regions and healthcare facilities. Policies that once restricted private hospital market growth have been lifted.

Magnetic Resonance Imaging (MRI) is the fastest growing and most versatile of all the imaging modalities. However, reducing healthcare budgets is a continuing trend, and this can sometimes deter investment towards the installation of additional MRI imaging facilities at clinical settings. Radiologists are under increased pressure to provide high-quality levels of service to patients, despite the increase in patient throughput, and the reduction of investment in healthcare provisions.

Radiology remains the largest clinical application, but the global ultrasound market is evolving as it grows, and non-traditional and point-of-care applications are now at the forefront of product development. In 2017, cardiology ultrasound growth outpaced other traditional applications and technology development boosted the non-traditional and point-of-care ultrasound markets. Primary care remained a major emphasis for manufacturers and end-users.

China and the United States largely shaped the size and trends of the 2017 global Computed Tomography (CT) equipment market. GE Healthcare claimed the top market position, while Chinese companies United Imaging and Neusoft outpaced their Western cohorts. Combined, China and the US accounted for more than half of the world’s 2017 CT equipment revenues. Global revenues totaled just over $3,950 million, growing more than 3% year over year from 2016.

The UKRCO could be considered the perfect platform and opportunity for medical imaging providers to showcase their transformative technologies. In turn, the AI capabilities in the systems of the imaging providers could revolutionize the UK’s healthcare service and become integral in the prevention by 2033 of more than 20,000 cancer-related deaths per year.he palpable absence of AI at UKRCO shows that even some of the most developed imaging markets in the West do not necessarily enjoy a clear head start when it comes to AI.

Three trends have dominated ultrasound product launches of the past year – artificial intelligence capabilities, handheld systems, and designing for the end-user’s comfort. Holley Lewis, lead analyst for the Ultrasound Intelligence Service, discusses the short-term outlook for these trends and their impact on the global ultrasound market.

The value proposition of consumer medical devices should not be ignored, not now, as consumers increasingly engage in personal health, nor in the future of healthcare, where patient generated data is instrumental in population health management. Connectivity rates have increased immensely in the last five years, pointing at better circumstances for integrated health initiatives, yet meaningful use has not moved much. Connectivity should not be mistaken for continuity.

Global ultrasound revenues totaled $6,644.1 million in 2017 and grew 7.6% from 2016, representing the largest year-over-year market growth rate in several years. Revenue growth was driven by successful markets in China and the United States, countries which accounted for 45% of the global market in 2017. Additionally, growth returned to developing markets as Brazil bounced back from its recession, and healthcare infrastructure upgrades drove demand in several Eastern European and Middle Eastern countries.

As the clinical benefits of a digital healthcare system unfold and spread throughout the world, securing healthcare systems and patient information has never been more important, especially in the face of growing cyber-security threats and attacks.